A Bearish Sign Appears On Canadian Natural Res's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on the chart of Canadian Natural Res (NYSE:CNQ), which could indicate a bearish trend for the stock. This occurs when the 50-day moving average moves below the 200-day moving average. The company's stock is currently trading around $55.35. Seasoned investors may use this as a signal to start considering possible short positions.
June 29, 2023 | 2:47 pm
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The formation of a 'death cross' on Canadian Natural Res's chart could indicate a bearish trend for the stock, potentially leading to a decrease in its price.
The 'death cross' is a technical indicator that occurs when a stock's short-term moving average crosses below its long-term moving average, often signaling a potential bearish trend. This could lead to a decrease in the stock's price as investors may start considering short positions.
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